Australia Increases Energy Efficiency Grants for SMEs

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In a move aimed at enhancing energy efficiency and reducing emissions, the Australian government has announced an additional $41 million in Energy Efficiency Grants (EEG) for Small and Medium Enterprises (SMEs). This allocation brings the total size of the scheme to $62 million.

The grants, ranging from $10,000 to $25,000, are intended to assist SMEs in upgrading to more energy-efficient equipment. Eligible upgrades include replacing air conditioners with high-efficiency units or gas heating boilers with heat pumps, among others.

During the initial round of grants, $15.5 million was awarded to 674 businesses for implementing energy-saving measures such as pool covers, heat pumps, air conditioners, and improvements to hot water pumps and compressed air systems.

Assistant Minister for Climate Change and Energy, Jenny McAllister, emphasised the positive impact these grants will have on SMEs, stating, “Investing in energy efficiency can save on energy costs, alleviating financial pressure on small businesses and enabling them to reinvest their savings into their operations.”

McAllister further highlighted the dual benefit of such upgrades, noting that not only do they result in significant savings on energy bills for businesses, but they also contribute to Australia’s emissions reduction targets.

These grants signify the government’s commitment to supporting SMEs in their efforts to improve energy efficiency, reduce costs, and contribute to environmental sustainability.